Question 3 10 pts Maynard Manufacturing Company uses a job-order costing system in its two departments, Machining and Assembly. Overhead is allocated in the Machining Department on the basis of machine hours, while in the Assembly Department overhead is allocated on the basis of direct labor cost. The following budget data are provided: Machining Department Assembly Department Manufacturing overhead $ 500,000 $ 1,075,000 Direct labor cost 350,000 500,000 Machine hours 100,000 10,000 Direct labor hours 50,000 150,000 The following information is provided for a job (Job No. 510) recently completed by the company: Machining Department Assembly Department Manufacturing overhead $ 25,000 $ 37,500 Direct labor cost 10,000 12,500 Machine hours 5,000 1,000 Direct labor hours 2.000 3,000 Required: 1) Compute the two departmental overhead rates. (4 points) 2) Compute the cost of Job No. 510. (4 points) 3) Assume that the company decides to use a single overhead rate for the two departments, calculated by adding their overhead costs and using direct labor hours as the allocation base. What would the overhead rate be, and how much manufacturing overhead cost would be assigned to Job No. 510? (Do not round your intermediate calculation.) (2 points)